KUALA LUMPUR: CIMB Group Holdings Bhd
has no immediate plans to pursue an initial public offering (IPO) for TNG Digital Sdn Bhd.
CIMB Bank Bhd and CIMB Malaysia’s chief executive officer, Gurdip Singh Sidhu, said that the company is performing well, having begun to generate profit earlier this year and has already qualified as a unicorn.
"The question of an IPO is something we will always assess, but it is not something we are rushing into.
"At this point, the business is growing very nicely, very well. We have started making a profit after a few years of the incubation period, but we are not rushing into an IPO per se yet,” he told reporters after a media panel session held on the sidelines of MyFintech Week 2025 today.
The fintech firm is 45.01 per cent owned by Touch ‘n Go Sdn Bhd, a CIMB Group unit.
In September 2024, TNG Digital announced plans for an IPO within the next two to three years, targeting to raise over US$300 million.
Earlier, Finance Minister II Datuk Seri Amir Hamzah Azizan, in his special address at the MyFintech Week 2025, said the government aims to identify five unicorns by 2030. - Bernama
